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Jones Lang LaSalle (“JLL”) has been exclusively retained to sell the fee simple interest in an exceptional development opportunity located in the Upper East Side at 1481- 1489 Second Avenue (the “Property” or “Site”). The Property features an L-shaped development footprint totaling approximately 10,655 square feet with roughly 77’ along Second Avenue and 50’ along East 77th Street. The expansive site permits an extremely efficient layout featuring valuable retail along the avenue and a separate, private entrance for the residential tower along the side street.
This development opportunity features approximately 153,734 zoning floor area (“ZFA”) as-of-right that can be increased by approximately 34,100 ZFA through the inclusionary housing bonus program for a total development potential of up to 187,834 ZFA. The Site also benefits from a light & air easement above the low-rise corner building that provides the ability to construct an efficient building.